FNu
FNu FNu
  • 10-03-2017
  • Mathematics
contestada

How many years ago was $5000 invested in an account paying 8% annual interest compounded quarterly,if the amount presently in the account is $11 500

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Aliwohaish12
Aliwohaish12 Aliwohaish12
  • 13-03-2017
T=(log(11,500÷5,000)÷log(1+0.08÷4))/4
T=10.52 years
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